ACCT 201 Honors Fall 2017 Analiese Olivo 12/14/1 7 11:09 PM Test: FINAL EXAM Tim

Question

ACCT 201 Honors Fall 2017 Analiese Olivo 12/14/1 7 11:09 PM Test: FINAL EXAM Time Remaining: 01:37:53 Submit Test This Question: 1 pt 15of40(32 complete) This Test: 40 pts $50,000. After using the equipment for 2 years, the company determined that the equipment could be used for an additional 6 years and have a $9,000. Assuming Corporation purchased equipment on January 1, 2015 for $500,000. The equpment had an estimated useful life of 5 years and an estimated salvage value of Corporation uses straight-line depreciation, compute depreciation expense for the year ending December 31, 2017 OA. $53,333 B. $45,000 O C. $51,833 D. $48,500 Click to select your answer.

Explanation / Answer

Select Option - C

Depreciation (original) = 500,000 - 50000 / 5 years = 90000

After two years book value = 500,000 - 180000 = 320000

Depreciation (Revised) = (320000 - 9000) / 6 years = 51833

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.